Neuberger Berman Fund Buys Piece Of MKP

Jan 9 2013 | 12:29pm ET

Neuberger Berman Group's private equity fund of hedge fund managers has made its third investment in less than a month.

Dyal Capital Partners, which closed in December with $1.28 billion in commitments, has bought a minority stake in MKP Capital Management. The deal follows similar agreements with Pinnacle Asset Management last month and Scopia Fund Management earlier this month.

Terms of the agreement with MKP, which has $6.8 billion in assets under management, were not disclosed. As with its other partners, Dyal will be a passive investor and MKP's leadership and investment processes will remain unchanged. MKP will invest the proceeds from the stake sale in its funds.

New York-based MKP, which focuses on global macro, structured credit and relative value strategies, is the fifth hedge fund manager in Dyal's stable. Neuberger Berman set up the fund in 2010 to acquire stakes in established hedge fund managers; it said when it closed the fund in December that it expected to finalize several deals within a few months and that it eventually plans to invest in between 12 and 15 managers.

Prior to its recent buying spree, Dyal had taken minority stakes in Paris-based Capital Fund Management last December and Mast Capital Management in July.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.